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Thursday 20 June, 2019

TGS

TGS and PGS Announce Jeanne d’Arc HD3D in Offshore East Canada

TGS and PGS Announce Jeanne d’Arc HD3D in Offshore East Canada

ASKER, NORWAY (20 June 2019) - TGS and PGS announce the Jeanne d’Arc High Density 3D (HD3D) multi-client project in Offshore Newfoundland, East Canada.

The project will cover approximately 5,000 km2 and encompasses multiple Exploration Licenses, Significant Discovery Licenses and sections of the open acreage included in the November 2019 bid round. PGS’ Ramform Atlas will perform the acquisition, utilizing their high-resolution Geostreamer® technology.  Acquisition has commenced and is expected to complete in late Q3 2019.

Kristian Johansen, Chief Executive Officer, TGS commented, “This survey will provide our clients with the first comprehensive, high resolution 3D dataset within the mature Jeanne d’Arc basin. This highly productive and prospective area has long been a priority to our customers and we are pleased to provide better data to support future drilling and license rounds.”

The Jeanne d’Arc HD3D survey borders Newfoundland’s prominent producing fields such as Hibernia, Terra Nova, White Rose, North Amethyst and Hebron.

Following this ninth consecutive season of data acquisition in offshore East Canada, the jointly-owned library will have more than 189,000 km of 2D GeoStreamer data and approximately 56,000 km2 of 3D GeoStreamer data. An expansive well log library is also available in the region, along with advanced multi-client interpretation products that will improve play, trend and prospect delineation.

This project is supported by industry funding.

Company summary     

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

For more information visit TGS online atwww.tgs.com.

Forward-looking statements and contact information

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principle customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY”.


For additional information about this press release please contact:

Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: [email protected]


This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

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